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Related: About this forumKeppel Offshore & Marine Ltd. and U.S.-Based Subsidiary to Pay $422 Million (foreign bribes)
https://www.justice.gov/usao-edny/pr/keppel-offshore-marine-ltd-and-us-based-subsidiary-agree-pay-422-million-globalDepartment of Justice
U.S. Attorneys Office
Eastern District of New York
FOR IMMEDIATE RELEASE
Friday, December 22, 2017
Keppel Offshore & Marine Ltd. and U.S.-Based Subsidiary Agree to Pay $422 Million in Global Penalties to Resolve Foreign Bribery Case
Keppel Offshore & Marine Ltd. (KOM), a Singapore-based company that operates shipyards and repairs and upgrades shipping vessels, and its wholly owned U.S. subsidiary, Keppel Offshore & Marine U.S.A. Inc. (KOM USA), have agreed to pay a combined total penalty of more than $422 million to resolve charges with authorities in the United States, Brazil and Singapore arising out of a decade-long scheme to pay millions of dollars in bribes to officials in Brazil. KOM USA pleaded guilty today in the Eastern District of New York in connection with the resolution. In addition, a guilty plea by a former senior member of KOMs legal department was unsealed.
(snip)
According to admissions and court documents, beginning by at least 2001 and continuing until at least 2014, KOM conspired to violate the Foreign Corrupt Practices Act (FCPA) by paying approximately $55 million in bribes to officials at the Brazilian state-owned oil company Petrobras, and to the then-governing political party in Brazil, in order to win 13 contracts with Petrobras and another Brazilian entity. KOM effectuated and concealed the bribe payments by paying outsized commissions to an intermediary, under the guise of legitimate consulting agreements, who then made payments for the benefit of the Brazilian officials and the Brazilian political party. KOM USA participated in this conspiracy from approximately 2007 to 2014.
KOM entered into a deferred prosecution agreement with the Criminal Divisions Fraud Section and the U.S. Attorneys Office for the U.S. District Court for the Eastern District of New York (the United States) in connection with a criminal Information filed today in the Eastern District of New York charging the company with conspiracy to violate the anti-bribery provisions of the FCPA. In addition, KOM USA pleaded guilty and was sentenced by the Honorable Kiyo A. Matsumoto on a one-count criminal Information charging the company with conspiracy to violate the anti-bribery provisions of the FCPA. Pursuant to its agreement with the United States, KOM will pay a total criminal fine of $422,216,980, with a criminal penalty due to the United States of $105,554,245, including a $4,725,000 criminal fine paid by KOM USA. As part of the deferred prosecution agreement, KOM also committed to implement rigorous internal controls and to cooperate fully with the United States ongoing investigation.
In related proceedings, the company settled with the Ministério Público Federal (MPF) in Brazil and the Attorney Generals Chambers (AGC) in Singapore. The United States will credit the amount the company pays to Brazil and Singapore under their respective agreements, with Brazil receiving $211,108,490, equal to 50 percent of the total criminal penalty, and Singapore receiving $105,554,245, equal to 25 percent of the total criminal penalty.
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